U.S. Markets closed

Glu Mobile: 2Q Earnings Snapshot

SAN FRANCISCO (AP) _ Glu Mobile Inc. (GLUU) on Thursday reported second-quarter net income of $2.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Francisco-based company said it had net income of 2 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 6 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The mobile game maker posted revenue of $95.5 million in the period. Its adjusted revenue was $101.9 million, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $101.6 million.

For the current quarter ending in October, Glu Mobile said it expects revenue in the range of $110 million to $112 million.

The company expects full-year revenue in the range of $406 million to $410 million.

Glu Mobile shares have declined almost 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.59, a rise of 28% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLUU at https://www.zacks.com/ap/GLUU